UConn Health formally submitted its bid to buy Waterbury Hospital from bankrupt Prospect Medical Holdings Friday morning, offering $13 million in cash and $22 million in assumed debts as part of a deal that could jump-start the public system’s expansion across the state. The public health system was named as a “stalking horse” bidder to set the minimum price for the hospital in an auction scheduled for Nov. 17. If no other offers come in before a Nov. 14 bid deadline, UConn Health will be named the winning purchaser and can move forward to seek approvals from a bankruptcy judge, the state legislature and hospital regulators.
Read the full article: UConn Health Bids to Buy Waterbury Hospital for $13M Cash Plus $22M in Debt //
Source: https://www.greenwichtime.com/business/article/uconn-health-bid-waterbury-hospital-ct-21114442.php